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Showing posts with label Government Initiatives. Show all posts
Showing posts with label Government Initiatives. Show all posts


Representatives of South Korea’s leading steel manufacturer POSCO have called on Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Thursday and expressed their willingness to invest in the State.

The Chief Minister said the industrial policy of the State is transparent and encourages investors for industrial development. The natural resources will help industries and also help for industrial development in the state, he added.

POSCO India group Chairman, Managing Director Sung-Lae Chun, Chief Financing Officer Goo Young An, Senior General Manager Jung Le Park and other officers were part of the delegation that met the Chief Minister, according to a statement from the Chief Minister's Office.

POSCO is bullish about the Indian market. It has had a long bumpy ride for a very long time but has kept on believing in India.

This is one of the exemplary case of how Indian Steel Market are an advantage to worldwide steel market. MAK India Business Solutions PVT LTD is a perfect place to relocate your business or to seamlessly Implement your venture. We assist you with complete land acquisition-to-functioning of the operations.

 

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                                                                      Source :  Economic Times


Finance Secretary Tarun Bajaj said, “We are seeing an improvement in all parameters generally and we are expecting a further improvement in November and this should continue. Hopefully, the economy should be back on rails and it is moving much faster than what had been anticipated by a lot of experts and economists”, he said.

Last month, the International Monetary Fund said the Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year.

However, it projected a rebound to 8.8 per cent in 2021. Last financial year, India witnessed a growth rate of 4.2 per cent.

Last week, Finance Minister Nirmala Sitharaman said there were visible signs of revival in the economy and the GDP growth may be in the negative zone or near zero in the current fiscal.

Echoing similar sentiments, Bajaj said, "We continue to see an uptick in the economy since the past few months since the opening up of the economy and the manufacturing PMI has touched 58.9, which is the highest in the last decade. The power consumption in October is 12.10 per cent more than October 2019, which is a signal of economic activity."

"Average daily toll collection is up by almost 120 per cent. So basically these are signals of economic activity going up. The GST collection has touched Rs 1.05 trillion, almost 10 per cent higher year-on-year. The FPI inflow is about $3.2 billion in October as compared to some negative figure for September. The number of issues in the capital market has gone up," he said.

"The FDI during April-August is $35.73 billion...external sector remains robust, our foreign reserves have touched almost $560 billion. We had a very good Kharif crop, Rabi is also good and we are hoping for a bumper Rabi crop...I should also mention the number of Covid cases are seeing a downtrend, the fatality rate is down, and now they are close to about 5 lakh cases. In case we keep taking precautions during the coming winter months and especially during festival season, I think we should be in better times," he said.

"So, despite Covid situation that we are facing, we find that there is a lot of interest, a lot of traction, there are a lot of enquiries from investors... a lot of deals are being talked about, which shows that despite Covid situation, our growth story which we feel is intact is also accepted by others who are ready to invest into India during these times," he said.

These elements make the Indian Economy one of the most beneficial market for foreign investors to extend their business and enter the Indian market. On the off chance that you are likewise looking to extend your business, at this point our organization MAK India Business Solutions PVT LTD is the ideal spot for you to stop, as we offer far-reaching help for consistently migrating organizations or assembling unit in the nation.

 

 

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Amid the COVID-19 pandemic, the Maharashtra government On Monday inked Memorandum of Understanding (MoUs) worth around Rs 35,000 crore with 15 companies even as Chief Minister Uddhav Thackeray called for attracting over Rs 1 lakh crore investments this year to the state. Thackeray made the remarks during the Magnetic Maharashtra 2.0 event, which seeks to mobilise investments in the state.

The MoUs worth Rs 34,850 crore were signed between the state-run Maharashtra Industrial Development Corporation (MIDC) and the 15 companies and they are expected to create 23,182 jobs, a statement said. 

The event was also attended by Industries Minister Subhash Desai and Minister of State for Industries Aditi Tatkare.

Speaking at the event, the chief minister lavished praise on the governments industries department for its efforts to attract investments in the state. 

"If I may say so, my wish for Maharashtra, in its 60 years of statehood, is that this year we must have over Rs 1 lakh crore of investments and I have full faith that our industries department will live up to it”,he said. 

Thackeray said the government had signed MoUs with other companies in June this year and added it has been fulfilling most requirements pertaining to those. 

Sixty per cent of the companies have got land allotted and the rest are in the process of final allocation, he added. 

The CM further said that Maharashtra offers faith, justice and stability to investors and the around Rs 35,000 crore investment is result of that faith and hard work of the states industries department. 

Referring to the COVID-19 crisis, Thackeray said that world leaders are faced with tough choices between life and economy and safety and unemployment due to the pandemic. 

“Today, as we sign MoUs with 15 top companies of the world, I can humbly say that Maharashtra will emerge stronger out of this crisis”’he added.

Here’s a glimpse of the Chief Minister talking about the prospects of the growth of the Indian market in the coming years and why it’s the perfect spot for investors to put in their money in the country. If you are also someone who’s looking to expand your business in India then our company, MAK India Business Solutions PVT LTD is the perfect place for you as we provide comprehensive support for seamlessly relocating businesses or manufacturing unit in the country.

 

 

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Smartphone segment in India rebounded after the lockdown to touch an all-time high of 53 million units in the September quarter, with Samsung toppling Xiaomi from the number one spot, according to research firm Counterpoint.

India's smartphone shipments grew 9 per cent year-on-year to reach over 53 million units in July September 2020 quarter - the highest-ever shipment in a quarter for the Indian smartphone market, Counterpoint said.

"The push from the brands coupled with the pent-up demand due to the lockdown and strong sales on online platforms led to this growth. Consumers are still preferring online platforms due to COVID-19 fears," it added.

Samsung led the smartphone market with a 24 per cent share, followed by Xiaomi (23 per cent), Vivo (16 per cent), Realme (15 per cent) and Oppo (10 per cent).

Counterpoint said Samsung became a leading brand in the Indian smartphone market after two years with 32 per cent year-on-year growth, and the strong performance was the result of multiple strategies, including effective supply chain and touching various price points through new launches.

Samsung's aggressive push in online channels, with the highest ever online contribution within its portfolio, also helped it regain its number one spot, it added.

Counterpoint Research Analyst Shilpi Jain said even the offline-centric brands like Vivo, Oppo and Itel are increasing their online presence due to the changing consumer behaviour.

"Though online channels remain in focus, OEMs are also trying to leverage new opportunities in offline channels in tier II and III cities... Additionally, the brands are focussing on affordability by announcing cashback, promotions and offers on devices," she added.

Jain said on the manufacturing front, the Indian government is focusing on increasing the local value addition.

"Mobile handset production is likely to increase in the coming time as schemes like Production Linked Incentive (PLI) start to impact the overall electronic manufacturing ecosystem. Indian brands like Micromax and Lava are expected to leverage the government's 'Aatmanirbhar Bharat' initiative and plan their comeback," she said.

The overall mobile handset market (smartphone and feature phone) grew 8 per cent year over year in the third quarter due to stronger consumer demand in the smartphone segment and stronger sales of feature phones.

Samsung led the overall market as well with a 22 per cent share, followed by Xiaomi (14 per cent), Vivo (11 per cent), Realme (10 per cent) and Itel (8 per cent).

"The Indian smartphone market is on a recovery path as the lockdown restrictions have been relaxed. The market has shown consistent growth for the last few months. It saw strong demand during the Independence Day period in August as major online platforms hosted massive sales," Counterpoint Senior Research Analyst Prachir Singh said.

September has always been a high sell-in month as brands prepare for the upcoming festive season and push stock in the channels, he added.

These savings are now being funnelled into smartphone purchases. Additionally, smartphones have become an integral part of consumers' lifestyle in this changing environment, he noted.

OnePlus remained the top brand in the affordable premium segment (Rs 30,000-45,000), driven by OnePlus 8 sales.

Counterpoint said a Basic Customs Duty (BCD) of 10 per cent was announced on display modules and touch panels, which will be effective from the next quarter.

This move by the Indian government will impact the cost of production since displays are majorly imported. But, it will boost the overall handset manufacturing ecosystem and local sourcing contribution, in the long run, it added.

India is one of the leading countries in the smartphone market and is still boosting which makes it a perfect place to start a new business or relocate. MAK India Business Solutions PVT LTD is the perfect one-stop place to start a new business or relocate. it is a perfect place to know everything about the Indian market there is to know. And we can help you with everything and anything. 



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Embarking on a new journey, India's largest two-wheeler maker Hero MotoCorp and US cult bike maker Harley-Davidson on Tuesday joined hands to sell and service the luxury bikes in India.

In a regulatory filing, Here MotoCorp said that the company will sell and service Harley-Davidson motorcycles,

and sell parts, accessories, general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India.

As part of a licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

 

 

●       Hero will handle sales and after-sales for Harley-Davidson in India

 

●       Hero will develop a range of premium products, bikes under the Harley name

 

●       Future platforms could also be used under the Hero name

 

Such an elite company, Harley Davidson is ready to invest in the Indian market which tells you have strong is the Indian market. MAK India Business Solutions PVT LTD is the perfect one-stop place to know about the Indian market. We have the scope of consumer durable products launching in India. And we can help you with everything you need. We are capable of getting the solution comfortably at all the levels in a government department, semi-government licensing authority and permissions from Reserve Bank of India for foreign direct investment as per the norms of Ministry of Finance, Government of India, anything you need.

 

 

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Finance Minister Nirmala Sitharaman participated in the 10th India-UK Economic and Financial Dialogue on Global Responses to coronavirus through Video Conferencing.

FM Sitharaman said that aid that India-UK economic ties are important, as together they are two of the world’s top seven economies with a combined GDP of over $5 trillion.

She said, the trade between the two countries has more than doubled since the first EFD (eFunds corporation) in 2007, with bilateral investment supporting over half a million jobs across both countries. 

The Minister said that this session on sharing of experiences on coronavirus response domestic priorities and policies for economic recovery will help both countries refine their policies and help in learning to ensure better outcomes.

Sitharaman said India and the UK have a joint investment of up to 8 million pounds between their departments of biotechnology for research into factors leading to the severity of the novel coronavirus.

UK Chancellor of Exchequer Rishi Sunak conveyed to Finance Minister Nirmala Sitharaman that he appreciated India becoming the second largest PPE manufacturer in the world.

Sitharaman said the UK-India FinTech Joint Working Group met in March 2020 to seek greater acceptance of RuPay Cards in the UK. 

Further, speaking about the UK-India Capital Markets Working Group's initiative, led by the City of London Corporation, in partnership with the India UK Financial Partnership (IUKFP), she said for attracting inflows to India’s capital markets will help the economy.

"India-UK strategic collaboration helped to accelerate the development of GIFT City with Standard Chartered and HSBC opening offices in Gift City in 2020, becoming the first foreign banks to be licensed to operate an international banking unit," the finance minister said.

UK has increased trading with India, which makes India a very trustworthy and resourceful market. And MAK India Solutions PVT LTD is the perfect place to start a business or to relocate. MAK provides total support for Entrepreneurs and International Trade & Developers. We will implement your concepts and if required will co-ordinate with you in setting up a company in India as required for your project.

 

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The future of India-US relations is "bright" regardless of the outcome of the US Presidential election, American Deputy Secretary of State Stephen Biegun said. "Every presidential administration here in the US has left the relationship in even better shape than the one inherited from its predecessor," he added. The relationship is much bigger than one political party, he further said.

 Ahead of the third edition of the two-plus-two dialogue between India and the US later this month, Indian Ambassador to Washington Taranjit Singh Sandhu has underlined five broad principles to take the partnership between the two nations to the “next level”.

 The dialogue is expected to take place on October 26 and 27 in New Delhi during which both sides are likely to carry out a comprehensive review of their strategic cooperation. US Secretary of State Mike Pompeo and Defence Secretary Defence Secretary Mark Esper are scheduled to visit India for the dialogue.

 These five principles are ‘look ahead’, ‘look broad, look deep’, ‘strengthen each other’, ‘explore together’ and ‘shape together’, Sandhu said. “First and foremost, look ahead. While short-term gains might provide happiness and relief, we cannot afford to overlook where we want to be in the long run. This also means that we cannot be complacent, about short-term gains nor can we be, too agitated about short term losses. Look far, look ahead,” he said.

 

“The second point is related to the first in a way. Look broad, look deep. Both our countries need to look at the big picture. We cannot afford to see things in silos however hard the temptation,” he said, adding the strategic vision needs to encompass the vision from a single department or a single stakeholder.

 Thirdly, the strength of the partnership comes from strengthening each other, Sandhu asserted. India’s growth is not in the interest of its alone. A secure and prosperous India is in the interest of the region, and the world at large, he said.

 “Today we have a very broad-based defence partnership with the United States encompassing all aspects of defence cooperation,” the ambassador said. He asserted that this cooperation is not limited to defence trade, which has grown rapidly to over USD 21 billion in just over a decade but covers joint exercises and training, joint research and technology collaboration, co-development, and co-production of defence platforms.

 “We have a robust institutional framework with several enabling agreements and understanding concluded in recent years to advance our defence collaboration,” Sandhu said. The designation of India as a Major Defence Partner by the US, and the accordance, of Strategic Trade Authorisation-1 Status, by the US is a recognition of our robust defence ties and the immense potential it holds for further expansion across different dimensions, he said in his virtual address.

 Observing that India also wants to play a more active role in global rule-making, the top diplomat said New Delhi seeks reform of multilateral institutions to reflect the realities of the times. India will assume membership of the UN Security Council in January 2021. In these extraordinary times, as an important voice representing one-sixth of humanity, India seeks to play a more active role and contribute to global peace, stability and security. The democratisation of global order can no longer remain elusive, he asserted.

 

“Fourthly, explore together. Let the partnership, branch into areas, that have hitherto remained unexplored. We need to challenge ourselves,” Sandhu said.

 “Last but not least, we all need to shape together, the world where we want to live in. In a way, this is what Gandhiji said long ago, ‘be the change you want to see in the world’. Trust and friendship have become crucial as we confront extraordinary global challenges today,” Sandhu said.

The US is ready to invest in Indian market because it believes, the Indian market is the perfect market to start any business or a relocate as well and MAK India Business Solutions PVT LTD is the perfect one-stop place, where we can acquaint you of the market and help you build your trade as well.

 

 

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Ten companies have launched their IPOs since July and many more are in the pipeline. September has been particularly busy with eight companies opening their public issues during the month.

Happiest Minds Technologies, Route Mobile, Chemcon Speciality Chemicals, Computer Age Management Services, Angel Broking, UTI Asset Management Company, Mazgaon Dock Shipbuilders and Likhitha Infrastructure launched their initial public offers during September 2020.

The last time eight companies hit the Street with IPOs was in March 2018.

In March 2018, eight companies - Bharat Dynamics, Bandhan Bank, Hindustan Aeronautics, Sandhar Technologies, Karda Construction, Mishra Dhatu Nigam, ICICI Securities and Lemon Tree Hotels - had come out with initial public offerings.

In September 2020, eight companies raised more than Rs 7,100 crore, much less than the Rs 15,711 crore garnered by eight firms in March 2018.

Close to 6 million demat accounts were opened in the last 9 months, taking the retail tally to 44.6 million accounts.

In September 2020, there was one government company, Mazgaon Dock Shipbuilders, which launched its IPO, while in March 2018, there were three government companies that raised money via an IPO.

But there is one area where September 2020 IPOs overtake March 2018 IPOs. It is the subscription numbers. Majority of IPOs' subscription figures in 2018 were in single digits, barring Bandhan Bank (14.56 times).

In September 2020, Happiest Minds Technologies witnessed subscription of 151 times, Chemcon Speciality Chemicals 149.3 times, Mazgaon Dock Shipbuilders 157.4 times (though it closed on October 1 but opened on September 29), Route Mobile 73.3 times, CAMS 47 times, Likhitha Infrastructure 8.4 times, Angel Broking 3.94 times and UTI AMC 2.3 times.

Experts expect the momentum in the primary market  to continue, as they feel LIC is also planning to launch its IPO by year-end, which is expected to be the biggest in the history of India.

Strong leadership and niche businesses everything is available in India now which makes it a perfect place to start or relocate your business. Mak India Business Solutions PVT LTD is the perfect place to come to. We help you with everything that you need to start a business, from knowing the market to perfectly making your vision come true.


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India is stepping on the pedal to become an electronic manufacturing major. The pandemic has been the fuel. An exponential growth of connectivity in the country propelled India to become the country with the second largest mobile subscriber base in the world.

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme for development of world class infrastructure along with common facilities and amenities through Electronics Manufacturing Clusters (EMCs) that will help India to become the mobile manufacturing hub in the world.

It is expected that these EMCs would aid the growth of the ESDM sector, help development of entrepreneurial ecosystem, drive innovation and catalyse the economic growth of the region by attracting investments in the sector, increasing employment opportunities and tax revenues.

The government has proposed a total outlay of the proposed EMC 2.0 Scheme at Rs.3,762.25 crore, which includes the financial assistance of Rs.3,725 crore and administrative and management expense to the tune of Rs.37.25 crore over a period of eight years.

Some of the expected outcomes of the Scheme include availability of ready infrastructure and 'plug & play' facility for attracting investment in electronics sector, new investment in electronics sector, jobs created by the manufacturing units and revenue in the form of taxes paid by the manufacturing units.

According to Manufacturers Association Of Information Technology (MAIT), India should now see large scale manufacturing happening in the country, translating into progressive increase in value addition from around 20 per cent to 35-40 per cent.

  

  • Electronics Market is a sunshine market. Indian market has grown at a CAGR of 14% from 2016-19 and is expected to accelerate at a CAGR of 16.6% between 2020-25
  • Electronics production currently contributes 3.3% to the economy. It will grow to US$320 Bn by 2025. With additional measures, it has potential to reach US$410 Bn, which will be 8.2% of US$ 5Tn India's GDP target by 2025
  • Currently 50% of US$134 Bn of total Electronics products Demand is imported. By 2025, the total product Demand will reach to US$368 Bn, however, import can reduce to 29%, saving US$76 Bn of foreign exchange
  • The Industry has the potential to Increase GDP contribution from present 3.4% to 8.2% in 2025

Electronic manufacturing is one of the fastest growing segments the economy in India. As one of the nation’s largest employers, the electronic manufacturing industry provides excellent business opportunities. Our company Mak India Business Solutions PVT LTD invites you to India which has the potential of growth in various sectors of development. Under the umbrella of MAK in India we will make your investments complete safe, secure and solid. We shall see forward to give you the maximum advantages of your investments to our experience in fund management and shall build a long lasting relationship. We believe in the total commitment of making your venture very successful & profitable.

 

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India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships.

Indian consumer durables market is broadly segregated into urban and rural markets and is attracting marketers from across the world. The sector comprises of a huge middle class, relatively large affluent class and a small economically disadvantaged class. Global corporations view India as one of the key markets from where future growth is likely to emerge. The growth in India’s consumer market would be primarily driven by a favourable population composition and increasing disposable income.

 

 Market Size

 

• India's gross domestic product (GDP) (at constant 2011-12 prices) was estimated to be Rs 145.65 lakh crore (US$ 2.06 trillion) for 2019-20, growing 4.2 per cent over the previous year.

• India retained its position as the third largest start-up base in the world with over 8,900-9,300 start-ups as 1,300 new start-ups got incorporated in 2019 according to a report by NASSCOM. India also witnessed the addition of 7 unicorns in 2019 (till August 2019), taking the total tally to 24.

• India's labour force is expected to touch 160-170 million by 2020 based on the rate of population growth, increased labour force participation and higher education enrolment among other factors according to a study by ASSOCHAM and Thought Arbitrage Research Institute.

• India's foreign exchange reserves reached Rs 37.31 lakh crore (US$ 493.48 billion) in the week up to May 29, 2020 according to the data from RBI.

• Electronics hardware production in the country increased from Rs 1.90 trillion (US$ 31.13 billion) in FY14 to Rs 4.58 trillion (US$ 65.53 billion) in FY19.

 

Recent Developments                                                                                         

 

With an improvement in the economic scenario, there have been investments across various sectors of the economy. The mergers and acquisition (M&A) activity in India stood at US$ 28 billion in 2019, while private equity (PE) deals reached US$ 48 billion. Some of the important recent developments in Indian economy are as follows:

 

• In 2019, companies in India raised around US$ 2.5 billion through 17 initial public offers (IPO).

• India improved its ranking in World Bank's Doing Business Report by 14 spots over last year and was ranked 63 among 190 countries in the 2020 edition of the report.

• India is expected to have 100,000 start-ups by 2025, which will create employment for 3.25 million people and generate US$ 500 billion in value as per Mr T V Mohan Das Pai, Chairman, Manipal Global Education.

 

Investments

 

According to Department for Promotion of Industry and Internal Trade, during April 2000 – March 2020, FDI inflow into the electronics sector stood at US$ 2.79 billion.

 

Following are some recent investments and developments in the Indian consumer market sector.

 

• Consumer durable loans in India increased 43 per cent y-o-y to Rs 6,495 crore (US$ 921.4 million) in FY20.

• In January 2020, Godrej appliances announced plans to foray into air-cooler segment and acquire a market share of 15 per cent in the segment in the next five years.

• In May 2020, Philips announced investment of Rs 250-300 crore (US$ 35.47-42.56 million) to boost its manufacturing and R&D facilities in India.

• In December 2019, Kent RO Systems Ltd announced an investment of Rs 150 crore (US$ 21.46 million) to set up a new manufacturing unit over next three years.

 

Government Initiatives

 

The Government of India, under its Make in India initiative, is trying to boost the contribution made by the manufacturing sector with an aims to take it to 25 per cent of the GDP from the current 17 per cent. Besides, the Government has also come up with Digital India initiative, which focuses on three core components: creation of digital infrastructure, delivering services digitally and to increase the digital literacy.

 

•           The Prime Minister of India, Mr Narendra Modi announced various economic packages, having a cumulative worth of around Rs20 lakh crore (US$ 283.73 billion) and being almost 10% of India’s GDP.

         

Pradhan Mantri Garib Kalyan Package (PMGK) was introduced in April 2020 to provide relief to underprivileged and help them fight the battle against COVID-19. The budget allocated to the scheme was Rs 1.70 lakh crore (US$ 24.12 billion).

• India is expected to attract investment of around US$ 100 billion in developing the oil and gas infrastructure during 2019-23.

• The Government of India is going to increase public health spending to 2.5 per cent of the GDP by 2025.

• For implementation of Agriculture Export Policy, Government approved an outlay Rs 206.8 crore (US$ 29.59 million) for 2019, aimed at doubling farmers income by 2022.

  

With such great opportunities opening up to expand their business, our company Mak India Business Solutions PVT LTD. as a facilitator in making that expansion viable and convenient with providing comprehensive support for expanding your business in the potential market with seamless relocating of the business or manufacturing unit in the country.



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